KUALA LUMPUR: The Malaysia Competition Commission (MyCC) has initiated investigations into tyre and beverage companies nationwide for possible anti-competitive behaviour.
In a statement, MyCC said they, together with the domestic trade and consumer affairs ministry’s enforcement division, were probing the companies for issuing a price revision notice to supermarkets and hypermarkets in Malaysia.
MyCC’s investigations were conducted under Section 4 of the Competition Act 2010 while the investigation by the enforcement division was under the Price Control and Anti-Profiteering Act 2011.
“Notices have been issued to the parties to produce certain data and documents within the deadline set to assist in further investigations,” it added.
MyCC Investigation and Enforcement Division director Iskandar Ismail said they would not hesitate to take stern action against enterprises found to have flouted the law.